Sony Corporation provides a sobering example. The Sony Walkman had dominated portable music since the 1970s. In 2007, when the Apple iPhone was introduced, Sony’s dominance of the world of electronic devices seemed unshakeable. Sony had a world-class MP3 player, it had a pioneering e-reader, and it made some of the best cameras. In the fall of that year, Sony introduced the next-generation PlayStation Portable (PSP), the best gaming device in the world. Sony even owned Time Warner movie and television studios, giving it the opportunity to offer unique content. Yet despite these piecemeal
...more
